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Voluntary disclosure of sovereign exposures

The Committee has not reached a consensus to make any changes to the regulatory treatment of sovereign exposures

Revisions to market risk disclosure requirements

The revised standard introduced a "traffic light" approach for capital requirements

EBA publishes final draft technical standards on individual portfolio management by crowdfunding service providers

When investing in a portfolio of loans offered by crowdfunding service providers, investors may face potential information asymmetries.

AML/CFT Handbook consultation support – first release

These proposed changes will simplify the use our handbooks, making it easier to find the information required for all supervised persons in one place.

The Nonqualified Financial Property Limitation

Investments in qualified opportunity funds (QOFs) offer a number of distinct tax benefits

NEC defects dispute must go to adjudication before the court

The decision of the Outer House of the Court of Session is relevant to NEC construction contracts that contain the ‘W2’ option for dispute resolution.

US Financial Regulators Release Much-Anticipated Report on Stablecoins

The Report signals the Biden administration’s concerns about the rapidly developing digital asset markets and their lack of appropriate federal regulation.

New rules for foreign subsidies - The European Commission’s approach to level the playing field

The Proposal builds on a Commission White Paper published for consultation in June 2020.

CNPD publishes new guidelines on cookies

Cookies can be used for different purposes, i.e. to recognize a user's language choice or the products that the user had placed in his/her basket during a previous shopping session.

Irish Central Bank emphasises climate-related expectations for financial firms

The CBI’s supervisory expectations apply to all regulated financial services providers as defined by Section 2 of the Central Bank Act 1942.

US Federal Trade Commission Adopts Prescriptive Data Security Requirements and Other Updates to Its Gramm-Leach-Bliley Act Safeguards Rule

The Final Rule will take effect one year after its publication in the Federal Register

European Parliament formally adopts EU public Country-by-Country Reporting

A breakthrough was achieved in February 2021 in the Council of the EU, as a result of certain countries changing their previous position and agreeing to support the proposal.

Future regulatory framework – Treasury to reform regulation post-Brexit

The consultation proposes changing this principle to clarify that such growth should happen in a sustainable way that is consistent with the UK’s net zero commitments.

NYDFS Clarifies Application of Cybersecurity Regulation to Covered Entities Adopting an Affiliate’s Cybersecurity Program

The Affiliate Program Letter poses a challenge for foreign banks with New York branches, agencies or representative offices that is less likely to exist for US-based financial groups that are subject to comprehensive regulation in the United States.

Government Regulation